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This story was originally published on HackerNoon at: https://hackernoon.com/hyphenate-raises-$45m-led-by-nexus-to-run-the-cfo-office-on-ai.
Hyphenate, formerly Maximor, raised a $45M Series A led by Nexus after 86x revenue growth, as its AI agents run 90% of routine finance work.
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Hyphenate, formerly Maximor, raised a $45 million Series A led by Nexus Venture Partners with B Capital, Foundation Capital, BoldCap and Gaia Ventures, bringing total funding to $54 million. Revenue grew 86x and customers 11x in 12 months. Customers include six public companies such as Groupon and Synthesia. Its self-learning agents run 90% of routine finance work across the platform. Customers report 90% less repetitive work and 75% fewer audit exceptions. Hyphenate layers on top of a company's ERP and banks across five finance areas, with no rip-and-replace. The company will use the funds to take its agents deeper across finance and into strategic finance.